Global Smart Syringe Market Size, Share And Growth Analysis For 2024-2033

LONDON, GREATER LONDON, UK, August 13, 2024 /EINPresswire.com/ -- The smart syringe market has experienced robust growth in recent years, expanding from $10.32 billion in 2023 to $11.43 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth in the historic period can be attributed to need for medication safety, prevalence of blood-borne diseases, regulatory compliance, global immunization programs, increased healthcare awareness..

Strong Future Growth Anticipated
The smart syringe market is projected to continue its strong growth, reaching $17.23 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%. The growth in the forecast period can be attributed to global vaccination initiatives, prevention of medication errors, rise in chronic diseases, expansion of home healthcare, government healthcare initiatives.

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Growth Driver Of The Smart Syringe Market
A surge in the incidences of needlestick injuries is expected to propel the growth of the smart syringes market going forward. Needlestick injuries occur when a needle or another sharp medical device accidentally punctures a healthcare worker's skin. Smart syringes are very useful in minimizing needlestick injuries and bloodborne disorders such as HIV and Hepatitis B, as these smart syringes are equipped with exceptional safety features such as retractable needles that automatically get retracted so that accidental needlestick injuries and subsequent transmission of diseases are avoided.

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Major Players And Market Trends
Key players in the smart syringe market include Becton Dickinson and Company, Gerresheimer AG, Baxter International Inc., Terumo Corporation, Braun Melsungen AG, Cardinal Health Inc.
Product innovations are a key trend gaining popularity in the smart syringes market. Major companies in the market are introducing innovative products such as the Gx InnoSafe safety syringe to sustain their position in the market.

Segments:
1) By Product: Auto-Disable Syringes, Active Safety Syringes, Passive Safety Syringes
2) By Age Group: Pediatrics, Adults
3) By Application: Drug Delivery, Vaccination, Blood Specimen Collection
4) By End Users: Hospitals And Health Maintenance Organizations (HMOs), Diabetic Patients, Family Practices, Psychiatrics, Other End Users

Geographical Insights: North America Leading The Market
North America was the largest region in the global smart syringes market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart syringe market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Smart Syringe Market Definition
Smart syringes are advanced medical devices incorporating technology to enhance safety, accuracy, and efficiency in administering injections. Smart syringes address needlestick injuries, medication errors, and the spread of bloodborne diseases that improve patient and healthcare provider safety.

Smart Syringe Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Smart Syringe Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on smart syringe market size, smart syringe market drivers and trends, smart syringe market major players, smart syringe competitors' revenues, smart syringe market positioning, and smart syringe market growth across geographies. The smart syringe market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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